2009 – the year of financial and
economic crisis and pandemic

2009 was overshadowed by the global financial and economic crisis. At the same time, an outbreak of swine flu in Mexico led to a pandemic that by June 2009 was severe enough for the World Health Organisation to raise its alert rating to 6 – the highest level. The effects were felt by the tourism industry all over the world.

These external influences had a strong negative impact on the Kuoni Group during 2009. Because of the economic crisis that emanated from the financial services industry, demand for premium travel fell sharply. This unfortunate trend was exacerbated by widespread recession and negative consumer sentiment in all of Kuoni’s markets.

Unusually, there was also a very sharp fall in value of Kuoni’s most important currencies – including the British Pound, American Dollar, Swedish Krona, Norwegian Krona, and Indian Rupee – against the Swiss Franc.

Experts declared 2009 to be the year of the worst economic crisis for almost 80 years.

The overview below shows the key figures (GDP, unemployment rate) for Kuoni Group’s most important markets, as well as the worldwide changes in travel activity compared with the previous year.

Click on the image to zoom

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